As Competition Intensifies, Global Standardization Strategies and Transnational Strategies Tend

question 63

True/False

As competition intensifies, global standardization strategies and transnational strategies tend to become less viable, and managers need to direct their companies toward either an international strategy or a localization strategy.

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Definitions:

Ordinary Goods

Goods for which demand increases as consumer income increases and decreases as consumer income decreases, opposite to inferior goods.

Consumer Equilibrium

A scenario in which a consumer has distributed their income to achieve the greatest satisfaction, considering the prices of goods and services.

Budget Constraint

A representation of all the combinations of goods and services that a consumer can afford to purchase at given prices within their income level.

Utility

In economics, utility refers to the total satisfaction received from consuming a good or service.